December 7, 2023

It’s no secret that crypto markets have struggled since the turn of the New Year, with the flagship crypto Bitcoin running out of the gate to its worst form since the early days.

Bitcoin rallied hard during 2021, starting the year around $30,000 before topping out just shy of $69,000. While this was much less hardcore of a rally than many other crypto’s, the OG crypto felt all the love the market had to offer.

But 2022 is coming at cryptos with a vengeance. And while ‘make fewer risky bets’ may have been a worthy New Year’s resolution for the risk-enthused retail investors of 2021, it’s unlikely that healthy-habit changes have much to do with the recent slump.

Less Growth, More Value

Cryptocurrency began with the inception of Bitcoin, which marketed itself as both digital money and as a digital alternative to gold. In the old days, this was a Hail Mary, and given returns, we’d say it got caught.

Fast forward to the present day and the narrative shifts. Bitcoin is no longer quite the Hail Mary that it was back when Bitcoin’s use-case was still being “proved” by illicit underground marketplaces like The Silk Road. Essentially, this was, just where people first went to use the seemingly anonymous alternative to the USD for online transactions, and it caught on so we know people use it when it makes sense.

While real-life usability still remains to be proven at scale for cryptos as a whole, investments in…

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